ThyssenKrupp’s warship division expects its market size to triple as defense spending surges

German naval systems maker ThyssenKrupp Marine Systems expects its market size to triple by the end of the decade, following the German parliament’s approval of increased defense spending. CEO Oliver Burkhard noted that the government’s new fiscal policy removes limits on defense expenditures, signaling a significant shift in approach. The company plans to expand its capacity and explore partnerships, such as the recent joint venture with India’s Mazagon Dock Shipbuilders to design and build submarines for the Indian Navy.

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